Fortified dairy product market is an enriched dairy product. It consists of adding micronutrients such as minerals and vitamins to dairy products, in this phase of enrichment or fortification in order to minimize the deficiency in different age groups of consumers. Fortification of the dairy products is carried out to replenish the nutrients lost during the processing of these products. Some of the processing techniques that could result in nutrient loss from dairy products include spray drying, heating, ultra-heat treatment, and pasteurization. As these processing methods gain popularity, demand on the global fortified dairy products market is projected to escalate.
By end of 2030, the market for fortified dairy products is estimated to increase by 6.7% at CAGR.
According to the Organization for Economic Co-operation and Development, which recorded an increase in global dairy product consumption from 411,173 thousand tons in 2015 to 435,805 thousand tons in 2019. This leads to increased demand for dairy products. This, in turn, drives demand for fortified dairy products in the forecast period, i.e. 2020-030
The latest Fact. MR report shows that demand for fortified dairy products will increase exponentially and that they are anticipated to generate a total $56 billion opportunity in the 2020-2030 forecast period. The WHO and the FAO have also presented food fortification as an effective way in which children and young people in underdeveloped countries and remote areas can fight against malnutrition and weak immunity.
Fortified Dairy Products Market: Segments
Due to its nutrition and a wide range of applications, Milk is a highly consumed milk product around the world that leads to a high growth of the market in fortified milk products.
In a study of 296 high school children from the Chinese region, riboflavin and iron deficiencies were lower for those who drank fenced milk. In comparison with drinking unfortified milk, they also showed increased academic achievement and motivation.
Vitamins have been the largest segment in terms of sales, contributing to overall sales of the global market for fortified milk products, where more than half the market share in the global fortified dairy market is driven by an increase in the demand for poor vitamins. However, it is anticipated that in the next few years the segment of minerals will be strengthened, as it is important for fortified milk products.
Fortified Dairy Products Market:
Government initiatives on nutrition deficiency eradication or reduction
Milk and dairy products are some of the best and easiest available sources of essential nutrients. Nutrient absorption is, however, impeded by a variety of manufacturing processes. Fortification is essential to replenish all lost nutrients in milk and its products. The industry has seen an unprecedented demand for fortification milk, milk powder, infant formula, and various other dairy products as a result of the spread of target government initiatives aimed directly at eradicating nutritional deficiencies.
High prices and non-penetration to the remote areas of underdeveloped countries
The equipment and resources used in the fortification of dairy products make the commodity more costly than the local sellers’ dairy products. Furthermore, remote areas do not have the knowledge and the money to use such fortified goods as a way of improving their nutrition levels, which would, in turn, minimize their use in the underdeveloped and lower-income countries by contrast to their non-fortified counterparts.
Fortified Dairy Products Market: KEY PLAYERS
Arla Foods Ltd
o Company Overview
o Business Strategy
o Key Product Offerings
o Financial Performance
o Key Performance Indicators
o Risk Analysis
o Recent Development
o Regional Presence
o SWOT Analysis
China Modern Dairy Holdings Ltd.
Fonterra Co-operative Group
Gujarat Cooperative Milk Marketing Federation Ltd.
SanCor Cooperatives United Limited
The Kraft Heinz Company
Other Prominent Players
Fortified Dairy Products Market: REGIONS
Global fortified dairy products market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA.
Asia-Pacific excludes Japan (APEJ) will remain dominant in the global fortified milk product market, driven mainly by strong demand from its emerging nations such as India and China. In addition to the rising consumer consciousness and the increasing penetration of food enhancer technology, the booming food industry would have an impact on the growth and demand for fortified food products in the region.
As compensatory regions for market growth, Europe and North America will also prevail, due to the rising demand in the region for healthy food supplements among consumers, who are becoming increasingly conscious of their health.
In North America, the well-known physicians approved of the use of fortified dairy products will also fuel demand.
The highest market share for fortified dairy products in the Asia Pacific is projected to contribute to India and China because of increased demands for nutrient value for dairy products.
As for the production and consumption of fortified dairy products, North America and Europe are following Asia-Pacific because of the increased sensitivity to health and increased demand for healthy dietary supplements.
Fortified Dairy Product Market: Impact of COVID-19
As COVID 19 impacts negatively most the sectors and markets of the global economies, it has also disrupted the fortified dairy product market with the lockdown making the industries being closed for a while but as the lockdown gets lifted and the COVID 19 pandemic slows down the demand for the fortified dairy product is expected to grow immensely.
There is also a growing tendency for the masses after COVID 19 to consider healthier alternatives to their existing eating habits thus raising the demand for these fortified products.
The fortified dairy products market report also contains analysis on:
Fortified Dairy Products Market Segments:
o Fortified Milk
o Formula Milk Powder
By Sales Channel
o Convenience Stores
o Departmental Stores
o Hypermarkets and Supermarkets
o Online Stores